Kuwait chairs meeting of senior Arab finance officials in Abu Dhabi

Fourth annual meeting of undersecretaries of Arab finance ministries in Abu Dhabi.

­Undersecretary of Kuwait Finance Ministry Saleh Al­Sarawi headed a Kuwaiti delegation to participate in the fourth annual meeting of undersecretaries of Arab finance ministries in Abu Dhabi.

The meeting, organized by the Arab Monetary Fund, was attended by representatives of the Arab finance ministers, experts, and representatives from the International Monetary Fund, the World Bank Group, the Organization for Economic Co­operation and Development and a group of specialists in Arab finance.

During the meeting, many topics were discussed, including support of small and medium enterprises and development of systems of social security funds in the Arab countries, Al­Sarawi stated in a statement to Kuwait News Agency (KUNA). The meeting also discussed the preparations for the Fourth Forum of Public Finance in the Arab States due to be held in Dubai on February 8, in addition to preparations for the next session of the Council of Arab Ministers of Finance due in Kuwait next April.

The meeting, chaired by the State of Kuwait, also addressed strategic management of public debts in the Arab countries and the use of modern financial techniques to develop tax services. Arab experiences in achieving financial sustainability in Arab countries were exchanged during the meeting, Al­Sarawi noted. In this regard, Kuwait has set ambitious and promising plans for economic and financial sustainability within Kuwait’s Vision 2035 (New Kuwait), he added.

The meeting agenda also included the discussion of three working papers presented by the International Monetary Fund on supporting small and medium enterprises in the Arab countries, the role of fiscal policies, and structural reforms.

The second working paper presented the rethinking of social protection and workers’ policies for jobs and growth in the Middle East, presented by the World Bank. The third paper reviewed a study on the development of public debt management and strategies in the Arab countries, which was presented by the Arab Monetary Fund.

Source: KUNA